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Sunday, August 12, 2007

Evaluating New Members - Business vs. Life Experience

We had a new potential member create his one page profile and submit it to my Mastermind Group that met last week. He is a very early stage business - in fact he currently has a full time job and is working on his business part time. One of his goals is to transition to full time and continue to grow his company.

Usually such a candidate is not ideal for our Mastermind Groups. Most of our members are beyond the startup stage and have between $100,000 and $2,000,000 in annual revenues. They have hit a ceiling and need help getting to the next step. This new member, however, was referred by an existing member and I always meet with someone who was referred.

I'm glad I did.

What the new potential member lacks in business experience, he has made up for in life experience. To protect confidentiality I cannot go into detail in this post but the candidate has definitely seen a lot in his life to last three lifetimes. He could offer some valuable insights to the rest of the group and definitely bring a different perspective.

The group read his bio and agreed to meet with him for his test meeting next month. Whether he gets accepted into the group or not depends on how he interacts with the other members and if everyone feels like there is value being created but it was a valuable lesson to learn that life experience can sometimes be just as important as business experience when you are looking at adding new members to your group.

Evan Carmichael

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Name: Evan Carmichael
Location: Toronto, Ontario, Canada

EvanCarmichael.com is the world's #1 website for small business motivation and strategies. Evan also runs a series of successful Mastermind Groups in Toronto for entrepreneurs.

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